Tesla saw it shares fall as the firm posts fourth-quarter profit that missed expectations. However it did beat on revenue. The pressure on earnings came from several areas including a decline in revenue from the sale o regulatory credits, and higher import duties on parts from China. A lower priced model of the, Model 3, and lower prices on Model 5 and Model X had some impact on shares as well. Tesla stocks rose 3.8 percent during trading hours but fall about 2 percent in after hours trading. It was a mixed bag of earnings data today.
Facebook beat expectations and the stock rallied aggressively – shorts were forced to cover as the firm surprised all analysts expectations. The ARPU, or average revenue per user beat expectations at $7.37 – a 21 percent increase from last quarter. Revenue of $16.91 billion was above the expected $16.38 billion from analysts. This quarter was surely a success.
Microsoft falls on revenue miss. Microsoft shares fell by 4 percent Wednesday as the firm issued its fiscal second-quarter earnings report with sightly lower revenue than expected. Earnings of $1.10 per share was as expected. Revenue of $32.47 billion vs $32.51 billion as expected by analysts, according to an article on CNBC, by Refinitiv. The gross margin for Commercial Cloud held steady at 62 percent.
Amazon, which reports results tomorrow, is expected to report AWS revenue of $7.3 billion, according to analysts surveyed at FactSet.